Electrochemical Hydrogen Compressor Market Is Anticipated To Project A Robust Growth

6.1. Market Size & Forecast

6.1.1. By Value 6.2. Market Share & Forecast

6.2.1. By Type (<100 Bar, 100 to 500 Bar, 500 to 1000 Bar, >1000 Bar) 6.2.2. By Application (Chemical, Oil & Gas, HVAC, Others)

6.2.3. By Technology (Single-stage, Multi-stage) 6.2.4. By Specification (Oil-based, Oil-free) 6.2.5. By Region (North America, Europe, Asia-Pacific, Rest of the World)

6.2.6. By Company (2021)

6.3. Product Map

6.3.1. By Type 6.3.2. By Application 6.3.3. By Technology 6.3.4. By Specification

6.3.5. By Region

Table of Contents S. No. Contents

7. North America Electrochemical Hydrogen Compressor Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type

7.2.2. By Application

7.2.3. By Technology

7.2.4. By Specification

7.2.5. By Country

7.3. North America: Country Analysis

7.3.1. United States Electrochemical Hydrogen Compressor Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast 7.3.1.2.1. By Type 7.3.1.2.2. By Application 7.3.1.2.3. By Technology 7.3.1.2.4. By Specification

7.3.2. Canada Electrochemical Hydrogen Compressor Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Type

7.3.2.2.2. By Application

Table of Contents

No. Contents

7.3.2.2.3. By Technology

7.3.2.2.4. By Specification

7.3.3. Mexico Electrochemical Hydrogen Compressor Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Type

7.3.3.2.2. By Application

7.3.3.2.3. By Technology

7.3.3.2.4. By Specification

8. Europe Electrochemical Hydrogen Compressor Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type

8.2.2. By Application

8.2.3. By Technology

8.2.4. By Specification

8.2.5. By Country

8.3. Europe: Country Analysis

8.3.1. Netherlands Electrochemical Hydrogen Compressor Market Outlook

Contents

8.3.1.1. Market Size & Forecast 8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast 8.3.1.2.1. By Type 8.3.1.2.2. By Application 8.3.1.2.3. By Technology 8.3.1.2.4. By Specification

8.3.2. Germany Electrochemical Hydrogen Compressor Market Outlook

8.3.2.1. Market Size & Forecast 8.3.2.1.1. By Value 8.3.2.2. Market Share & Forecast 8.3.2.2.1. By Type 8.3.2.2.2. By Application 8.3.2.2.3. By Technology 8.3.2.2.4. By Specification

8.3.3. France Electrochemical Hydrogen Compressor Market Outlook

8.3.3.1. Market Size & Forecast 8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast 8.3.3.2.1. By Type 8.3.3.2.2. By Application 8.3.3.2.3. By Technology 8.3.3.2.4. By Specification

8.3.4. United Kingdom Electrochemical Hydrogen Compressor Market Outlook

8.3.4.1. Market Size & Forecast 8.3.4.1.1. By Value 8.3.4.2. Market Share & Forecast 8.3.4.2.1. By Type 8.3.4.2.2. By Application 8.3.4.2.3. By Technology 8.3.4.2.4. By Specification

8.3.5. Spain Electrochemical Hydrogen Compressor Market Outlook

8.3.5.1. Market Size & Forecast 8.3.5.1.1. By Value 8.3.5.2. Market Share & Forecast 8.3.5.2.1. By Type 8.3.5.2.2. By Application 8.3.5.2.3. By Technology 8.3.5.2.4. By Specification

9. Asia-Pacific Electrochemical Hydrogen Compressor Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type

Table of Contents

9.2.2. By Application

9.2.3. By Technology

9.2.4. By Specification

9.2.5. By Country

9.3. Asia-Pacific: Country Analysis

9.3.1. China Electrochemical Hydrogen Compressor Market Outlook

9.3.1.1. Market Size & Forecast 9.3.1.1.1. By Value 9.3.1.2. Market Share & Forecast 9.3.1.2.1. By Type 9.3.1.2.2. By Application 9.3.1.2.3. By Technology 9.3.1.2.4. By Specification

9.3.2. Australia Electrochemical Hydrogen Compressor Market Outlook

9.3.2.1. Market Size & Forecast 9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast 9.3.2.2.1. By Type 9.3.2.2.2. By Application 9.3.2.2.3. By Technology

9.3.2.2.4. By Specification

Contents

9.3.3. Japan Electrochemical Hydrogen Compressor Market Outlook

9.3.3.1. Market Size & Forecast 9.3.3.1.1. By Value 9.3.3.2. Market Share & Forecast 9.3.3.2.1. By Type 9.3.3.2.2. By Application 9.3.3.2.3. By Technology 9.3.3.2.4. By Specification

9.3.4. South Korea Electrochemical Hydrogen Compressor Market Outlook

9.3.4.1. Market Size & Forecast 9.3.4.1.1. By Value 9.3.4.2. Market Share & Forecast 9.3.4.2.1. By Type 9.3.4.2.2. By Application 9.3.4.2.3. By Technology 9.3.4.2.4. By Specification

9.3.5. India Electrochemical Hydrogen Compressor Market Outlook

9.3.5.1. Market Size & Forecast

9.3.5.1.1. By Value 9.3.5.2. Market Share & Forecast 9.3.5.2.1. By Type

9.3.1.2.2. By Application

9.3.1.2.3. By Technology 9.3.1.2.4. By Specification

Product Overview

Research Methodology

In-depth secondary research was conducted to determine overall market size, segmental market size and top companies in global electrochemical hydrogen compressor market.

In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.

List of leading companies and industry specialists was developed.

TechSci conducted interviews with industry experts and leading companies for data collection and verification.

Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about global electrochemical hydrogen compressor market.

Research Methodology

Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of the global electrochemical hydrogen compressor market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as rise in applications for electrochemical hydrogen compressors in multifaceted end user industries such as the chemical, oil & gas, and automobile, technological advancements, and the need for decreasing carbon emissions, etc. and speculated a robust growth during the forecast period. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in the global electrochemical hydrogen compressor market.

Methodology Followed for Calculation of Market Size:

Market Size by Value: Market size, in terms of value, for the year 2021 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders and industry experts. The team interviewed major companies, industry experts and other value chain stakeholders in the global electrochemical hydrogen compressor market to obtain the overall market size during 2017-2021, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data for 2017-2021.

Source: XXXXX

Note: These are dummy figures; please purchase our report for actual data

Research Methodology

Respondents were asked about the current and future market growth rates, as well as market shares by type, by application, by technology, by specification, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders depending upon the component.

Methodology Followed for Calculation of Market Shares:

Market shares by type, by application, by technology, by specification, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares of the leading electrochemical hydrogen compressor companies. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Moreover, respondents were asked about the leading companies operating in the global electrochemical hydrogen compressor market.

Methodology Followed for Forecasting:

TechSci Research performed periodical checks on data collected through the surveys with logical checks and analyzed the survey results.

Source: XXXXX

Note: These are dummy figures; please purchase our report for actual data

Research Methodology

Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast the global electrochemical hydrogen compressor market, TechSci Research used various forecast techniques such as:

o Moving Average

o Time Series Analysis

o Regression Analysis

o Econometric and Judgmental Analysis

TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate and analyze market demand scenario.

Partial List of Companies Interviewed

High yield Energy Technologies (HyET) Hydrogen B. V., FFI Fortescue Future Industries (Xergy Inc.), Nuvera Fuel Cells, LLC, Fuelcell Energy, Inc, Skyre Inc., Giner Inc., Proton Technologies Canada Inc., Henan Yuanju Machinery Equipment Co. Ltd., Keepwin Technology Hebei Co. Ltd., MTSA Technopower, etc.

Partial List of Secondary Sources

Company Annual Reports, Press Releases, Industry Magazines, Industry Reports, Company Websites, TechSci Research Proprietary Database & Knowledge Repository, International Monetary Fund, World Bank, International Journal of Hydrogen Energy, Office of Energy Efficiency and Renewable Energy, Electrochemical Energy Reviews, German Hydrogen and Fuel Cell Association, International Energy Agency, National Renewable Energy Laboratory, among others.

Note: (a): Sum of some shares may not be 100% due to round off till two decimal places.

Source: XXXXX

Note: These are dummy figures; please purchase our report for actual data

Industry Brief

High-end investments and technological advancements and rise for EHCs among end user industries including chemical, oil and gas industry and automobiles are driving the growth of global electrochemical hydrogen compressor market in the forecast period, 2023-2027. According to TechSci Research report, “Electrochemical Hydrogen Compressor Market- Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, Global electrochemical hydrogen compressor market stood at USD51.99 million in 2021 and is expected to register a CAGR of 13.96% to reach USD110.34 million by 2027. The global electrochemical hydrogen compressor market is expected to increase at a stable rate. Rapid urbanization and industrial growth are expected to increase energy consumption. Consequently, the rising demand for energy and power owing to rapid urbanization and the increasing household incomes, along with improving manufacturing and heavy industries, are boosting the deployment of electrochemical hydrogen compressors. Several factors, including an increase in hydrogen consumption from end-user industries and the construction of hydrogen pipeline systems, are projected to increase the Global Electrochemical Hydrogen Compressor Market. Additionally, the increasing government investments in oil and gas projects propel the demand for electrochemical hydrogen compressors integrated with energy storage systems in the Electrochemical Hydrogen Compressor Market. Thus, these factors are expected to contribute to the market growth during the forecast period. As fossil fuel sources deplete and worldwide demand for a more sustainable economy develops, hydrogen-based energy is becoming important. Hydrogen generation, purification, and compression are major technological challenges in the widespread adoption and commercialization of hydrogenpowered vehicles. Several investments and technologies are being made to address these concerns. For example, HyET has developed an Electrochemical Hydrogen Compressor (EHC) as a high-efficiency method for increasing hydrogen infrastructure deployment. This revolutionary method is ideal for hydrogen refueling stations in automobiles as well as for renewable 'green' hydrogen in natural gas pipeline infrastructure. Climate change is a major transformation driver in the EHC market. Various innovations and developing technologies are used in the production of solar panels, wind turbines, electric vehicles, and sustainably produced hydrogen. There is high business potential in the transition to a low-carbon society and minimizing CO2 emissions, and that drives demand for more energy-efficient machines such as EHCs.

Global electrochemical hydrogen compressor market is segmented into type, application, technology, specification, region. Based on type, the market is further fragmented into <100 Bar, 100 to 500 Bar, 500 to 1000 Bar, >1000 Bar. The >1000 Bar segment is the fastest growing type in the market, with an increasing CAGR of 18.88% in the forecast period 2022E-2027F. This is due to the rising demand for high-pressure compression of hydrogen gas in the upcoming years. The demand for compressed hydrogen gas with more than 1000 bar pressure is rising in numerous industrial applications, including hydro desulphurizing, hydrotreating, and hydrocracking processes.

Based on application, the market is segmented into chemical, oil & gas, HVAC, others. The Oil & Gas application dominated the Global Electrochemical Hydrogen Compressor Market in 2021, with a market share of 55.03%. This is due to the growing demand for compressed hydrogen gas for cleaner fuels, government regulations for the desulfurization of petroleum products, and the general decline in crude oil quality.

The refinery investments are rising rapidly with the increase in oil & gas demand across the globe. Consequently, the significant investments expected in developing countries are likely to require a high demand for green hydrogen gas usage.

Major market players operating in the global electrochemical hydrogen compressor market are High yield Energy Technologies (HyET) Hydrogen B. V., Xergy Inc., Nuvera Fuel Cells, LLC, Fuelcell Energy, Inc., Skyre Inc., Giner Inc., Proton Technologies Canada Inc., Henan Yuanju Machinery Equipment Co. Ltd., Keepwin Technology Hebei Co. Ltd., Taizhou Toplong Electrical & Mechanical Co., Ltd. “North America held the largest market share of 42.88% in the Global Electrochemical Hydrogen Compressor Market in 2021, as the region comprises developed nations that house heavy, medium-scale, and small-scale industries, striving to improve the energy efficiency of the region. In North America Electrochemical Hydrogen Compressor Market, the United States is the most significant contributor to the compressed hydrogen gas demand with a market share of 76.93% in 2021, majorly owing to the high demand for compressed hydrogen gas from the Oil & Gas industry,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving By Productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.